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saravana (Businees development executive)     28 July 2012

Repayment of education loan

I have taken an education loan for my post graduation in a public sector bank during 2007 for
rs.1,30,000 after which i was not able to repay during 2009 and 2010
,bank issued court notice during 2011 i went to court they asked me to
repay as early as possible ,then the bank manger told you pay one lakh
in that amount after which i will send a letter to the head office to
close your loan account as per his words i paid 1,00,000 in
installments and completed it by march 2012 after whcih i asked for
letter he told that he has send to head office it will come in one
month till july it didnt come again they send a court notice when i
went to the manger he told you dont need to come i will take care ,now
on July 27th i got call from the bank to come in person when i went
their they are asking me to pay r.30000 in one day ,the branch manager
who was their earlier had got transferred now a new manger is there he
was threatening me with another branch officer  that if you don't make
the rs.30,000 by tomorrow you will have to pay rs.70,000 along with
interest ,though i requested to give time he is not listening ,i cant
afford that much money in one day,i need atleast one month time what should i do now



Learning

 3 Replies

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 )     28 July 2012

" i will send a letter to the head office to
close your loan account as"   Have you taken these words in writing from your previous manager?

Kumar Doab (FIN)     28 July 2012

The BM has made a pass on you.All transactions semm to be verbal.

If someone was along with you let him/her be your witness. You need some evidence.

Approach good office of Chairman of the bank.

Let your representation be carefully structured and drafted by an experienced person from your family, acquintances or by a lawyer.

saravana (Businees development executive)     30 July 2012

no i don't have any written proof for evidence ,my father went now recently and asked about this present manager is saying that you should have taken a letter in written that time itself now we can't do anything


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